Director/PDMR Shareholding

RNS Number : 9373T
Diversified Energy Company PLC
23 March 2023
 

23 March 2023

 

Diversified Energy Company PLC

("Diversified," or the "Company")

 

Director / PDMR Shareholdings

 

Diversified Energy Company PLC (LSE: DEC) announces the acquisition of Ordinary Shares of £0.01 each in the Company ("Ordinary Shares") by certain members of Diversified's Board of Directors ("the Board") and the vesting of certain Performance Share Units ("PSUs") and Restricted Stock Units ("RSUs") previously awarded to Persons Discharging Material Responsibility ("PDMRs").

 

Acquisition of Ordinary Shares by Members of the Board

 

On 21 March 2023, Sandra Stash, Independent Non-Executive Director of the Board acquired 10,000 Ordinary Shares at an average price of 94.80 pence per Ordinary Share. Following this purchase, Mrs. Stash is now interested in 34,181 Ordinary Shares representing approximately 0.004% of the Company's issued share capital.

 

On 21 March 2023, David Turner, Independent Non-Executive Director of the Board acquired 160,000 Ordinary Shares through the open market at an average price of 94.69 pence per Ordinary Share. Following this purchase, Mr. Turner is now interested in 538,475 Ordinary Shares representing approximately 0.055% of the Company's issued share capital.

 

On 22 March 2023, Martin Thomas, Independent Non-Executive Vice Chair of the Board acquired 14,000 Ordinary Shares through the open market at an average price of 94.55 pence per Ordinary Share. Following this purchase, Mr. Thomas is now interested in 2,220,000 Ordinary Shares representing approximately 0.229% of the Company's issued share capital.

 

Vesting of PSUs and RSUs

 

Members of the Company's senior management vested in previously awarded PSUs and RSUs as set out below:

 

Rusty Hutson, Jr, Executive Director, President and Chief Executive Officer

Bradley Gray, Executive Director, Executive Vice President and Chief Operating Officer

Eric Williams, Executive Vice President and Chief Financial Officer

Jim Rode, Executive Vice President and Chief Commercial Officer

Benjamin Sullivan, Executive Vice President, General Counsel and Company Secretary

 

Mr. Hutson and Mr. Gray's listed awards were solely PSU's, while the awards to Mr. Williams, Mr. Rode, and Mr. Sullivan included a mix PSU's and RSU's. The Company provides additional information about its 2020 long-term incentive plan program within the its Annual Report for the year ended 31 December 2022 available on its website.

 

To settle the awards, the Company will transfer Ordinary Shares (net of customary withholdings, including taxes) from its Employee Benefit Trust (the "EBT") as set forth in the table below:

 

 

Net Award

Shares Held Post-Award

% of Issued Share Capital

Rusty Hutson, Jr

1,696,889

23,902,890

2.46%

Bradley Gray

774,153

3,168,935

0.33%

Eric Williams

414,220

982,734

0.10%

Jim Rode

416,224

1,144,474

0.12%

Benjamin Sullivan

316,161

556,718

0.06%

 

 

For further information, please contact:

Diversified Energy Company PLC

 +1 973 856 2757

Doug Kris

dkris@dgoc.com

www.div.energy

 

 

 

FTI Consulting

dec@fticonsulting.com

U.S. & UK Financial Public Relations

 

 

 

About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rusty Hutson, Jr

2

Reason for the notification

a)

Position/status

Executive Director, President and Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Bonus award of performance share units constituting a right to acquire Ordinary Shares of 1p each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Vesting of performance share units units under the Company's equity incentive plan

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£Nil

1,696,889

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

20 March 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Bradley Gray

2

Reason for the notification

a)

Position/status

Executive Director, Executive Vice President and Chief Operating Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Bonus award of performance share units constituting a right to acquire Ordinary Shares of 1p each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Vesting of performance share units units under the Company's equity incentive plan

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£Nil

774,153

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

20 March 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Eric Williams

2

Reason for the notification

a)

Position/status

Executive Vice President and Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Bonus award of performance share units and restricted stock units constituting a right to acquire Ordinary Shares of 1p each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Vesting of performance share units and restricted stock units under the Company's equity incentive plan

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£Nil

414,220

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

20 March 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jim Rode

2

Reason for the notification

a)

Position/status

Executive Vice President and Chief Commercial Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Bonus award of performance share units and restricted stock units constituting a right to acquire Ordinary Shares of 1p each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Vesting of performance share units and restricted stock units under the Company's equity incentive plan

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£Nil

416,224

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

20 March 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Benjamin Sullivan

2

Reason for the notification

a)

Position/status

Executive Vice President, General Counsel and Company Secretary

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Bonus award of performance share units and restricted stock units constituting a right to acquire Ordinary Shares of 1p each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Vesting of performance share units and restricted stock units under the Company's equity incentive plan

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£Nil

316,161

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

20 March 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Sandra Stash

2

Reason for the notification

a)

Position/status

Independent Non-Executive Director of the Board

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 1 pence each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£0.9480

10,000

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

21 March 2023

f)

Place of the transaction

London Stock Exchange (XLON)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Turner

2

Reason for the notification

a)

Position/status

Independent Non-Executive Director of the Board

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 1 pence each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£0.9469

160,000

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

21 March 2023

f)

Place of the transaction

London Stock Exchange (XLON)

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Martin Thomas

2

Reason for the notification

a)

Position/status

Independent Non-Executive Vice Chair of the Board

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Diversified Energy Company PLC

b)

LEI

213800YR9TFRVHPGOS67

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Ordinary Shares of 1 pence each

 

Identification code

GB00BYX7JT74

b)

Nature of the transaction

Purchase of Ordinary Shares

c)

Price(s) and volumes(s)

Price(s)

Volume(s)

 

 

£0.9455

14,000

d)

Aggregated information

N/A single transaction

 

Aggregated volume

N/A single transaction

 

Price

N/A single transaction

e)

Date of the transaction

22 March 2023

f)

Place of the transaction

London Stock Exchange (XLON)

 

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